Eurozone retail sales slipped -0.1% mom in January, falling short of expectations for a 0.2% increase. Looking at the breakdown, spending on food, drinks and tobacco rose 0.3%, providing the only notable source of support. However, this was more than offset by declines in other categories.
Non-food retail sales (excluding fuel) dropped -0.2% in Eurozone, while automotive fuel sales fell sharply by -1.1%, reflecting both weaker mobility demand and softer energy consumption after the holiday period.
Across the broader EU, retail sales also declined -0.1% mom. The strongest increases were recorded in Estonia (+4.4%), Latvia (+2.8%), and Portugal (+2.0%), while the steepest declines were seen in Slovakia (-3.5%), Slovenia (-1.9%), and Croatia (-1.3%).
